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☆ Leaked memo reveals Disney's new finance structure as more layoffs loom, with a reported 15% of entertainment staffers to be cut
  + stars: | 2023-04-22 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +8 min
Disney's chief financial officer, Christine McCarthy, named a new finance team pulling together staff from both Disney Entertainment and ESPN. McCarthy shared the details with staff this week, naming Bryan Castellani as the new chief financial officer of Disney Entertainment and ESPN. Under Castellani, Lukas Wickart will continue to oversee finance for direct-to-consumer streaming business Disney+, ESPN+, Hulu, and Star. Karen Sack will oversee finance for our entertainment television businesses, including TV studios and ABC News finance, marketing, and networks planning. Jeff Grenn will oversee segment consolidation for Disney Entertainment, and finance in support of Aaron LaBerge's technology organization across Disney Entertainment and ESPN.
☆ MLB roundup: Padres' shutout ends Braves' win streak
  + stars: | 2023-04-20 | by ( ) www.reuters.com   time to read: +11 min
Martinez (1-1) allowed three hits and two walks with six strikeouts over seven innings to get the win. Cardinals starting pitcher Jake Woodford (1-2) allowed four runs on seven hits and a walk in five innings. Diamondbacks starting pitcher Madison Bumgarner (0-3) allowed seven runs on seven hits and four walks in four innings. Alek Thomas hit a two-run homer and Pavin Smith hit a solo shot for Arizona. Toronto right-hander Jose Berrios (1-3) gave up two runs on three hits with three strikeouts in seven innings.
☆ Joe Exotic warns Trump in a phone interview with Fox News that 'karma's a bitch' before he's cut off by a recording saying he's in federal prison
  + stars: | 2023-04-17 | by ( Lloyd Lee | ) www.businessinsider.com   time to read: +3 min
In a Fox News interview, the "Tiger King" star blamed the Trump Administration for his conviction. A prerecorded message interrupted the interview, saying, "This call is from a federal prison." The "Tiger King" star previously tried and failed to get a presidential pardon from Trump, and he appears to have held a grudge for being omitted from the pardon list ever since. During a phone interview from Atlanta Penitentiary with Fox News' Lawrence Jones, Exotic blamed the Trump Administration for putting him behind bars. In his closing statement during the interview, Exotic encouraged people to visit his campaign website to learn more about his platform, but he was cut off as viewers were inadvertently reminded where he was calling from.
☆ MLB roundup: Rays beat A's to stay undefeated
  + stars: | 2023-04-08 | by ( ) www.reuters.com   time to read: +10 min
Stroman has allowed two runs and 17 hits over 32 innings while winning each of his last five home starts. Ji Hwan Bae, Ke'Bryan Hayes and Connor Joe each had an RBI double, and Oneil Cruz and Jason Delay hit RBI singles for the Pirates. Pittsburgh starter Rich Hill allowed seven runs and eight hits in four innings. Alex Cobb (0-1) was the hard-luck loser for the Giants after holding the Royals to two runs on seven hits in seven innings. Kershaw (1-1) took the loss after allowing four runs on seven hits in six innings.
☆ TikTok, “Ted Lasso,” Bo Burnham and Other Covid-Era Cultural Highlights - The New York Times
  + stars: | 2023-04-08 | by ( ) www.nytimes.com   time to read: +2 min
Nine days after the World Health Organization declared Covid-19 a pandemic, “Tiger King” premiered. In this time of relative calm, it’s possible to see the pandemic as not just a crisis of public health but also a distinct cultural era with its own emerging canon. What unites these shows, movies, books and songs is not a common aesthetic or shared themes. We asked an array of cultural critics to consider the following 17 artifacts, each of which captured something essential during Covid. These works reflected a tumultuous moment back at us, illuminating it and us, too.
☆ McDonald's is laying off hundreds of corporate employees and letting some stay with lower benefits, reports say
  + stars: | 2023-04-07 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +4 min
McDonald's employees have expected job cuts since January, Insider reported. The company is letting go of "less than 1,000" employees, Restaurant Business reported on Thursday. McDonald's is also shuttering 10 field offices, according to Erlinger's note. It says the restaurant chain has field offices in cities such as Dallas, Nashville, and Long Beach, California. The restaurant chain is "in the strongest position it has been in years," Erlinger wrote in his memo this week.
☆ Disney names first brand chief as Iger refocuses on core properties
  + stars: | 2023-04-06 | by ( Sarah Whitten | ) www.cnbc.com   time to read: +2 min
The Walt Disney Company is looking to update its image. On Thursday, the company named Asad Ayaz as its first-ever chief brand officer, a position that will require the Disney vet to create a singular vision of the company for marketing campaigns. The company also recently rolled out its first wave of layoffs as it seeks to cut 7,000 jobs this year. On Wednesday, the company tapped Joe Earley to take over the role of president of direct-to-consumer for Disney Entertainment. Ayaz will continue as president of marketing for Walt Disney Studios, where he has overseen marketing and publicity for the studio's films and TV series, as well as Disney+, since 2018.
☆ McDonald's to close 10 US field offices and lay off hundreds of corporate employees, report says
  + stars: | 2023-04-06 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +3 min
McDonald's is laying off hundreds of corporate staff, Restaurant Business reported Thursday. The company is letting go of "less than 1,000" employees, Restaurant Business reported on Thursday. McDonald's is also shuttering 10 field offices, according to Restaurant Business. It says the restaurant chain has field offices in cities such as Dallas, Nashville, and Long Beach, California. Myra Doria will be McDonald's national field president, according to the report.
☆ Disney's streaming chief to exit under company revamp
  + stars: | 2023-04-05 | by ( ) www.reuters.com   time to read: +1 min
Joe Earley, the current president of Hulu, will take over as president of streaming for Disney Entertainment, the company said. Iger is restructuring Disney and promised to cut $5.5 billion in costs to make the company's streaming business profitable. Paull was appointed to run the streaming unit in January 2022 under former Chief Executive Bob Chapek. He is the former CEO of BamTech, a company Disney acquired to power its streaming ambitions. In the new role, Earley will work to expand streaming efforts across Disney+ and Hulu, the company said.
☆ Disney Names Joe Earley New Head of Disney+ and Hulu
  + stars: | 2023-04-05 | by ( Joe Flint | ) www.wsj.com   time to read: 1 min
Walt Disney Co. has named Joe Earley president of its direct-to-consumer unit for entertainment content, a role that gives him oversight of the Disney + and Hulu streaming services, the company said Wednesday. Mr. Earley is currently president of Hulu, a post he has held since January 2022 and will keep until a successor is named. Before heading Hulu, Mr. Earley was involved in the development and launch of Disney+ as head of its marketing and operations.
☆ Joe Exotic welcomed a newly indicted Trump to the 'party' of presidential candidates charged with crimes
  + stars: | 2023-04-03 | by ( Aditi Bharade | ) www.businessinsider.com   time to read: +3 min
Joe Exotic welcomed Donald Trump to the club of presidential candidates charged with crimes. "Former President Trump now that you have been indicted- Welcome to the party!" Exotic wrote on Instagram. The "Tiger King" star took to Instagram to welcome Trump to the "party" after Trump was indicted on Thursday. Despite being in prison, Exotic announced on Twitter in March that he had launched a long-shot 2024 presidential bid.
☆ Joe Exotic is running a long-shot 2024 campaign for president, all while serving 21 years in prison for his role in a murder-for-hire plot
  + stars: | 2023-03-21 | by ( Cheryl Teh | ) www.businessinsider.com   time to read: +3 min
Joe Exotic of "Tiger King" fame is running a long-shot 2024 campaign as a libertarian. At press time, Exotic's 2024 campaign appeared to still need some staffers. Exotic listed several "celebrities and influencers" who he says have endorsed him, including a man named Seth Posey, whose occupation is listed only as "Joe's fiancé." Angela McArdle, chair of the Libertarian Party, slammed Exotic's campaign in an interview with TMZ on March 19. Exotic, McArdle, and Meester did not immediately respond to Insider's requests for comment outside regular business hours.
☆ House, Senate to renew fight pitting child tax credit vs. corporate cash
  + stars: | 2023-02-15 | by ( Eric Rosenbaum | ) www.cnbc.com   time to read: +9 min
The fate of that corporate tax policy, supported by many Democrats, had been linked to the Democratic Party's desire for a deal on the child tax credit . But House and Senate members are getting ready to reintroduce legislation on the R&D tax credit. Indexing the child tax credit to inflation would also be a matter of tax policy that both parties might agree on as a way to enshrine future increases in law. But there's still the divide on the corporate tax priorities and child tax credit, and at a basic level, getting a bipartisan tax bill through the House and Senate and to the White House is always challenging. Many companies were surprised that the R&D tax credit did not get extended in the late year legislative package because it had so much bipartisan support.
☆ CEO Bob Iger's new Disney structure raises succession questions, insiders say, as some top execs depart and others jockey for power
  + stars: | 2023-02-10 | by ( Claire Atkinson | Lucia Moses | Elaine Low | ) www.businessinsider.com   time to read: +6 min
Disney CEO Bob Iger announced a new business structure Wednesday and further details emerged Thursday. ESPN and ESPN+ will form a separate unit, led by Jimmy Pitaro. Hollywood is already busy sharing memes about Bergman and Walden and how they will share and compete for power. As part of the cuts, Iger has directed his reports to lay off 7,000 staffers. A Thursday morning press release outlined all the shared services units that will now come under Bergman, Walden, and Pitaro.
☆ McDonald's Exec Slams California Lawmakers for Passing Fast-Food Law
  + stars: | 2023-01-26 | by ( Nancy Luna | ) www.businessinsider.com   time to read: +5 min
The FAST Recovery Act could raise minimum wage for California fast food workers to $22 an hour. This week, a top McDonald's exec slammed lawmakers for passing the law in an open letter. AB 257 creates a 10-member council of fast food workers, franchisees, franchisors, advocates for fast food employees, and representatives from the governor's office. The organization said higher wage mandates could raise costs for California fast-food restaurants by $3 billion. "As California fast-food workers defend this landmark law and assert their voice, SEIU is absolutely committed to standing with them in their fight."
☆ Premarket stocks: How Wall Street reacts to the GDP data will be telling
  + stars: | 2023-01-26 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +5 min
New York CNN —Wall Street analysts are holding their breath and crossing their fingers this morning as they await gross domestic product numbers for the final quarter of 2022. But that could all change if a recession looms into view and the US debt ceiling standoff drags on. “That is the worry: That you get turmoil in financial markets, a big tightening in financial conditions and that adds to downward pressure on economic activity,” he said. It’s not our expectation.”The United States hit the debt ceiling last week, forcing Treasury Secretary Janet Yellen to make accounting maneuvers to avoid breaching that $31 trillion borrowing limit. They argue it unfairly targets the fast-food industry and will increase prices and force businesses to lay off workers.
☆ Social Security cost-of-living adjustments have fallen short of inflation by $1,054 since the start of pandemic
  + stars: | 2023-01-12 | by ( Lorie Konish | ) www.cnbc.com   time to read: +3 min
That's as this year's 8.7% COLA kicks in for more than 65 million Social Security beneficiaries this month. That new data indicates Social Security beneficiaries will recover $38.70 after months of grappling with record high inflation, according to a new report from The Senior Citizens League. Average Social Security benefits fell short of inflation by about $1,054 from the start of the pandemic through 2022, according to a new analysis from the non-partisan senior group. That excludes Medicare Part B premiums, which are typically deducted directly from Social Security benefit checks. The predicament has made it more important for retirees to carefully plan for all income streams, not just Social Security.
☆ When Social Security beneficiaries can expect first checks of 2023 to include 8.7% cost-of-living adjustment
  + stars: | 2023-01-11 | by ( Lorie Konish | ) www.cnbc.com   time to read: +2 min
Other beneficiaries are scheduled to receive their Social Security benefits on the third of every month if they also receive Supplemental Security Income (SSI) benefits or if they received Social Security before 1997. Yet there's one thing the record high Social Security COLA still can't beat: persistently high consumer prices prompted by inflation. Because of that, your purchases will probably consume any increase you see in Social Security benefits, noted Joe Elsasser, founder and president of Covisum, a Social Security claiming software company. Medicare premium costs are downThe good news for Social Security beneficiaries is that Medicare Part B premiums are down this year. watch nowAs those monthly premium payments are typically deducted directly from Social Security checks, beneficiaries stand to see more of the COLA.
☆ Approaching age 62? What you need to know about Social Security's 8.7% cost-of-living adjustment and claiming benefits
  + stars: | 2023-01-10 | by ( Lorie Konish | ) www.cnbc.com   time to read: +1 min
Current Social Security beneficiaries are poised to receive an 8.7% boost to their benefits for 2023 starting this month, thanks to the highest cost-of-living adjustment in 40 years. If you're at or near Social Security's retirement benefit eligibility age of 62, you may wonder if you should claim benefits to get in on the COLA increase. "Don't feel like you're going to miss it if you don't claim now," said Joe Elsasser, founder and president of Covisum, a Social Security claiming software company. Put off claiming even longer — up to age 70 — and you will get up to an 8% boost for every year you delay passed full retirement age. If they continue to wait, they also stand to receive higher benefits as the discounts for early claiming get reduced, he said.
☆ Worried about Social Security benefit cuts? How calculators may help gauge how changes may affect you
  + stars: | 2022-12-05 | by ( Lorie Konish | ) www.cnbc.com   time to read: +2 min
Hobo_018 | E+ | Getty ImagesHow to measure the effects of a benefit cutCovisum, a provider of Social Security claiming software, recently updated its calculator to reflect the Social Security trustees' latest projections. Offerings include a free version for consumers and a more complex paid version for financial advisors. Another product, Maximize My Social Security, lets consumers evaluate for a $40 annual fee which claiming strategy might best suit them. Because there are thousands of Social Security claiming rules, a more in-depth analysis can help identify the best way to get the most from the program for your unique situation. Why it's important to stress test your planIt's also important to remember the current depletion date projections are subject to change, as the Social Security trustees amend their projections each year.
☆ America's cars and trucks are getting bigger, and so are their front blind zones. Children are paying the price.
  + stars: | 2022-10-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Headshot_Small.Png | Adiel Kaplan | ) www.nbcnews.com   time to read: +13 min
Front cameras could help prevent these deaths, safety experts say. On Monday, he announced legislation that would make front blind zone safety features mandatory for motor vehicles. After Congress passed a law to improve rear blind zone safety nearly 15 years ago, it took a decade — rulemaking, regulatory delays and a multiyear rollout — before it fully went into effect. Blumenthal’s bill directs regulators to determine what technology, such as cameras or sensors, to require to make front blind zones safer, much like the rear blind zone law did. But she believes the best way to prevent future tragedies is widespread use of blind zone cameras.
☆ Mattel to Pay $3.5 Million to Settle SEC Allegations Over Misstatements
  + stars: | 2022-10-21 | by ( Mark Maurer | ) www.wsj.com   time to read: +3 min
The Securities and Exchange Commission said Mattel Inc. agreed to pay $3.5 million to settle claims over misstatements the toy maker made in its 2017 financial statements. Mr. Abrahams, the lead auditor on the PwC account at the time of the alleged misstatements, failed to verify the uncorrected $109 million error was documented even though he knew about it, the SEC said. Mr. Abrahams worked at PwC from 2004 until 2019, when he resigned. Mattel didn’t admit to or deny the SEC’s claims when it agreed to pay the fine. Mr. Abrahams and Mr. Euteneuer didn’t immediately respond to requests for comment.
☆ Hulu insiders are confused and frustrated about their future as Disney and Comcast battle it out for control of the streamer
  + stars: | 2022-10-20 | by ( Lucia Moses | Elaine Low | ) www.businessinsider.com   time to read: +10 min
Sparring between Disney and Comcast CEOs over Hulu has stoked uncertainty among insiders about the streamer's future. Many wonder how Hulu will stay differentiated from Disney+ if Disney becomes Hulu's sole owner. Insiders and advertisers alike are also watching to see if Hulu will lose some of its distinctiveness as Disney invests more in Disney+. "That was a clear departure from Disney being family-focused and Hulu being general entertainment," said a second former Hulu exec. And as the CEOs posture, people inside the streamer are eager for leadership to tell them, as a third former company insider put it, "what Hulu means to the Walt Disney Company."
☆ What a record 8.7% Social Security cost-of-living adjustment could mean for taxes on benefits
  + stars: | 2022-10-20 | by ( Lorie Konish | ) www.cnbc.com   time to read: +5 min
Halfpoint | Istock | Getty ImagesRetirees who rely on Social Security benefits for income will get some relief from record high inflation when an 8.7% cost-of-living adjustment kicks in next year. How Social Security benefits are taxedSocial Security benefits are taxed based on a formula known as "combined" or "provisional" income. That is calculated by taking your adjusted gross income and adding non-taxable interest and half of your Social Security benefits. Taxes on Social Security benefits apply to single taxpayers starting with $25,000 in combined income, and married taxpayers starting with $32,000 in combined income. watch nowFor individuals with more than $34,000 in combined income and couples with over $44,000, up to 85% of their Social Security benefits may be taxed.
☆ McDonald's owners group says company rejected request to delay big changes to franchise system
  + stars: | 2022-09-28 | by ( Kate Rogers | ) www.cnbc.com   time to read: +4 min
A customer places an order September 24, 2022 at a McDonald's Restaurant along the New York State Thruway in Hannacroix, New York. A group representing McDonald's owners said the company rejected its request to delay changes to franchising policies, including updated standards and adjustments to how the company evaluates potential new restaurant operators, according to a letter seen by CNBC. The leadership group represents McDonald's owners across the country. As of the end of last year, according to the company, there there were more than 2,400 franchise owners. The company declined to comment on the changes or the NFLA's letter and its request to delay the adjustments.
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